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Brexit seen to hurt Greek tourism from next year

The consequences on the European economy from the UK’s possible departure from the European Union constitute a threat to Greek tourism already from next year, according to the president of the Association of Hellenic Tourism Enterprises (SETE), Andreas Andreadis.

Andreadis says that the tourism flow to Greece is directly linked to the course of the economies of the countries on which Greek tourism depends.

The first direct effect from the British market is associated with the fall of the pound against the euro, which is increasing the cost of holidays for Britons to Greece and other popular destinations in southern Europe.

In 2015, some 2.4 million British citizens came to Greece on holiday, spending a total of 2 billion euros. This year about half a million bookings are left to match last year’s arrivals figure but the additional cost may put reaching that figure that at risk.

Greek hoteliers are more concerned about next year, as major tour operators hit from the drop of the pound and the decline in outgoing tourism from the UK will demand cut in prices during negotiations for the 2017 packages. Hoteliers also fear a domino effect from a Brexit on other European economies, which could affect incoming tourism.